Archive for the ‘Payroll’ Category

On the 6th February 2018, the Pensions Regulator (TPR) announced that it has set NOW Pensions a deadline to resolve persistent administrative errors with the pension scheme.

Due to administrative errors carried out over a number of years, some scheme members savings have not been collected from employers and therefore not been invested. As a result the TPR has fined the trustee (NOW: Pension Trustee Limited) a total of £70,000 for its failings. (more…)

Here are some changes that you need to be aware of that are coming soon to your workplace pension contributions obligations, under Auto Enrolment.

If your pension scheme is being used for automatic enrolment, as from the 6 April 2018, all employers by law will be required to increase the minimum contribution that they currently pay into their employee’s pension scheme to at least 2% and employees will have to increase their contributions to 3% to bring the total minimum contribution to 5%. (more…)

Inspection teams have been visiting dozens of businessesin Cardiff, Newport, Caerphilly, the Vale of Glamorgan and Rhondda Cynon Taf to check that qualifying staff are being given the workplace pensions they are entitled to.

The move is part of a nationwide enforcement campaign by The Pensions Regulator (TPR) which began in London in April to ensure employers are meeting their automatic enrolment duties correctly. (more…)

Sarah Curzon, Director at MHA Broomfield Alexander explains the new Auto Enrolment duties and the impact this may have on your business.

Since 1 October 2017, a new employer has Auto Enrolment duties from the date they first start to employ a worker. If one or more employees are aged between 22 and the state pension age, and earn more than £10,000 per year; £833 per monthly; or £192 per week, they are usually “eligible” employees who must be auto-enrolled in a workplace pension scheme, unless they notify their employer they wish to opt out. (more…)

From April 2017 IR35 status in the public sector will no longer be determined by the contractor but instead determined by the client (engager). If the public sector client decides that the contractor company is subject to IR35 they will deduct tax from any payment to the contractor and pay this over to HM Revenue & Customs as if they were employees. (more…)